FineMark National Bank & Trust Sells 163 Shares of Arthur J. Gallagher & Co. (NYSE:AJG)

FineMark National Bank & Trust decreased its holdings in shares of Arthur J. Gallagher & Co. (NYSE:AJG) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 44,841 shares of the financial services provider’s stock after selling 163 shares during the period. FineMark National Bank & Trust’s holdings in Arthur J. Gallagher & Co. were worth $10,084,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Greenleaf Trust raised its holdings in Arthur J. Gallagher & Co. by 1.4% in the 3rd quarter. Greenleaf Trust now owns 2,967 shares of the financial services provider’s stock valued at $676,000 after acquiring an additional 42 shares during the period. Pinnacle Bancorp Inc. grew its stake in shares of Arthur J. Gallagher & Co. by 14.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 343 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 43 shares in the last quarter. Forte Capital LLC ADV boosted its stake in shares of Arthur J. Gallagher & Co. by 1.9% in the fourth quarter. Forte Capital LLC ADV now owns 2,395 shares of the financial services provider’s stock valued at $539,000 after buying an additional 44 shares during the period. HBK Sorce Advisory LLC lifted its position in shares of Arthur J. Gallagher & Co. by 3.9% during the 3rd quarter. HBK Sorce Advisory LLC now owns 1,230 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 46 shares during the period. Finally, Fidelis Capital Partners LLC lifted its position in Arthur J. Gallagher & Co. by 3.7% during the third quarter. Fidelis Capital Partners LLC now owns 1,325 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 47 shares during the period. 85.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Arthur J. Gallagher & Co. news, CFO Douglas K. Howell sold 5,100 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $257.04, for a total transaction of $1,310,904.00. Following the completion of the transaction, the chief financial officer now owns 75,852 shares in the company, valued at $19,496,998.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Douglas K. Howell sold 5,100 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $257.04, for a total transaction of $1,310,904.00. Following the sale, the chief financial officer now owns 75,852 shares of the company’s stock, valued at approximately $19,496,998.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Walter D. Bay sold 800 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $257.24, for a total transaction of $205,792.00. Following the transaction, the general counsel now owns 44,691 shares of the company’s stock, valued at $11,496,312.84. The disclosure for this sale can be found here. Insiders sold 50,219 shares of company stock valued at $12,727,781 over the last ninety days. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AJG shares. Royal Bank of Canada upped their price target on shares of Arthur J. Gallagher & Co. from $270.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Argus raised their target price on shares of Arthur J. Gallagher & Co. from $264.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Piper Sandler cut their price objective on Arthur J. Gallagher & Co. from $253.00 to $252.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Bank of America lifted their target price on shares of Arthur J. Gallagher & Co. from $233.00 to $255.00 and gave the stock an “underperform” rating in a research report on Wednesday. Finally, TD Cowen boosted their price target on shares of Arthur J. Gallagher & Co. from $249.00 to $273.00 and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Arthur J. Gallagher & Co. currently has a consensus rating of “Hold” and a consensus target price of $255.71.

Arthur J. Gallagher & Co. Stock Down 2.7 %

AJG stock traded down $6.89 during mid-day trading on Thursday, reaching $250.76. 390,136 shares of the company traded hands, compared to its average volume of 838,130. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. The stock has a market cap of $54.79 billion, a price-to-earnings ratio of 52.16, a P/E/G ratio of 2.41 and a beta of 0.69. The firm’s 50 day moving average price is $244.64 and its 200 day moving average price is $240.69. Arthur J. Gallagher & Co. has a fifty-two week low of $198.52 and a fifty-two week high of $259.35.

Arthur J. Gallagher & Co. (NYSE:AJG) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.08. Arthur J. Gallagher & Co. had a net margin of 10.27% and a return on equity of 18.94%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the prior year, the firm posted $3.03 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, equities research analysts predict that Arthur J. Gallagher & Co. will post 10.08 EPS for the current fiscal year.

Arthur J. Gallagher & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Friday, June 7th. Arthur J. Gallagher & Co.’s payout ratio is 48.58%.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co, together with its subsidiaries, provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide. It operates in Brokerage and Risk Management segments. The Brokerage segment offers retail and wholesale insurance and reinsurance brokerage services; assists retail brokers and other non-affiliated brokers in the placement of specialized and hard-to-place insurance; and acts as a brokerage wholesaler, managing general agent, and managing general underwriter for distributing specialized insurance coverages to underwriting enterprises.